Luna Innovations: Rises on strong Q4 results, purchase of General Photonics

Luna Innovations

04/03/2019 14:40

** Shares of fiber optic sensing manufacturer  LUNA.O  up
13.2 pct at $3.85; touch 6-month high
    ** Co reports strong Q4 results and its FY19 revenue
forecast topped Wall Street estimates  urn:newsml:reuters.com:*:nBwbgLb5ba 
    ** LUNA also acquires General Photonics Corp, maker of
optical instruments and modules for optical networks, for $20
mln  urn:newsml:reuters.com:*:nBw7stp5Ma
    ** Of 2 brokerages covering the stock, one rates it "buy"
and the other "hold"; median PT is $4.30
    ** Including early Monday gains, LUNA up ~15 pct this year;
shares rose ~38 pct in 2018

 (Reporting by Sayanti Chakraborty in Bengaluru)
 ((RM: sayanti.chakraborty.thomsonreuters.com@reuters.net))